Moody’s rates PepsiCo Singapore notes A1

Moody’s Investors Service said it an A1 rating to PepsiCo Singapore Financing I Pte. Ltd.'s new dollar-denominated backed senior unsecured notes. Parent PepsiCo Inc. will guarantee the notes. The issuer is a financing unit and has no other operations.

All other ratings for PepsiCo and its subsidiaries including the A1 senior unsecured are unchanged, the agency said.

The proceeds are intended for general corporate purposes, including the repayment of commercial paper and other near-term debt maturities. “The offering is credit positive because it will improve liquidity by reducing commercial paper and extending maturities without materially affecting cash interest costs,” Moody’s said in a press release.

The outlook is stable.

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